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Deductions & credits
No. The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.
To deduct actual expenses for the truck, your expenses can include (but aren’t limited to):
- Fuel
- Oil
- Repairs
- Tires
- Washing
- Insurance
- Any other legitimate business expense
Other unreimbursed expenses you can deduct include:
- Logbooks
- Lumper fees
- Cell phone that’s 100% for business use
- License and fees for truck and trailer
- Interest paid on loan for truck and trailer
Depreciate your truck and trailer:
- Over three years for a semi-truck for regular tax — or over four years for the Alternative Minimum Tax (AMT)
- Over five years for a trailer for regular tax — or over six years for AMT
June 1, 2019
9:43 AM